Citi - News, Articles & Research

Citi COO shares responsibility for data overhaul following $136 million fine

Citigroup is stripping chief operating officer Anand Selva of his full responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.

16 September 2024

News/crypto

Citi reports growing convergence of traditional and digital assets

The move to shorter settlement cycles and increasing regulatory clarity is leading to an accelerating convergence between traditional and digital assets, reports Citi.

05 September 2024

News/payments

Citi inks referral agreement with Dubai's Network International

Citi has struck a referral agreement with Dubai-based Network International to offer the bank's corporate clients omnichannel payments services in the Middle East and Africa.

21 August 2024

News/wholesale

Citi and Wells Fargo invest in credit infrastructure startup Setpoint

Citi and Wells Fargo have joined a $31 million Series B funding round for Setpoint, an infrastructure provider that streamlines transactions for the credit industry.

14 August 2024

Company announcement/wholesale

Citi Ventures invests in Endor Labs

Endor Labs, a leader in software supply chain security, announced a strategic investment from Citi Ventures.

15 July 2024

Company announcement/people

Citi appoints new head of UK commercial bank

Citi announces today the appointment of James Morris as Head of Citi Commercial Bank (CCB) for the United Kingdom, effective September 30, 2024.

15 July 2024

Finextra TV/payments

Looking Ahead to the Future of Cross-Border Payments

At EBAday 2024, Dawid Janas, Global Head of Clearing & FI Payments, Treasury and Trade Solutions, Citi, discusses the biggest changes happening currently across the cross-border payments landscape and how banks can ensure success in this rapidly changing environment. The conversation also turns to the technologies driving this change and how financial institutions can successfully scale their clients' cross-border payments processes.

15 July 2024

News/regulation

Citi fined $136m for lack of progress on fixing risk management flaws

Citi has been fined $135.6 million by US regulators for failing to make enough progress on fixing risk management and data governance deficiencies four years on from a cease and desist order.

12 July 2024

News/ai

AI to impact more than half of banking jobs - Citi

AI is set to upend the finance industry, adding tens of billions of dollars in profit while leading to the automation of as many as half of jobs in the sector, according to research from Citi.

21 June 2024

News/ai

Citi invests in commercial lending platform Numerated

Citi has made a strategic investment in Numerated as part of a wider partnership with the AI-powered modular commercial lending platform.

21 June 2024

News/payments

EBAday 2024: 75% view instant payments regulation as their number one priority

Hosting the second roundtable of the event, Sulabh Agarwal, global head of payments at Accenture spoke with Simon McConnell, European clearing head, treasury and trade solutions at Citi; and Bruno Mellado, global head of payments and receivables at BNP Paribas about navigating the testing waters of transformation for banks.

19 June 2024

News/payments

EBAday 2024: Derisking correspondent banking and cross border payments

Taking to the stage on the second and final day of EBAday in Lisbon, Portugal were Erik Frantz, executive director, financial institutions – banks, CaixaBank; Roisin Levine, head of UK and Europe partnerships, Wise Platform; Rafael Linde, head, international development and global relationship management, Cecabank; Dean Sposito, head of institutional cash and trade finance, Western Europe, Deutsche Bank; and Gareth Lodge, senior analyst, payments, Celent, who moderated the session.

19 June 2024